Wow, even E-Trade gets a seat at the table with the big boys. Yes, $3 billion more in rubbish and better still, an SEC investigation. Hooray! Just like Merrill Lynch! Who would have guessed that little old E-Trade was swimming in the cesspool of the subprime fiasco as deep as everyone else?
That's OK though because the deep and continuing financial problems are only tied to a few other firms including Merrill Lynch (Fortune 500 rank #22), Bank of America (Fortune 500 rank #9), JPMorgan (Fortune 500 rank #11), Wachovia (Fortune 500 rank #46), Capital One, Bear Stearns (Fortune 500 rank #138), Citigroup (Fortune 500 rank #8), UBS (Global 500 rank #36), WAMU, Morgan Stanley (Fortune 500 rank #20 + 2007 Most Admired Companies).
With such pedigree, who could believe that Deutsche Bank CEO is calling this "worst crisis that I have seen in my 30 years." What does he know anyway? Dick Cheney, says the US economy is resilient and we all know how often he's been spot on about everything. Who are you going to believe?
Good Thing the GOP’s Not in Charge: Stimulus Bill Created up to 1.6 Million
Jobs, Increased GDP by 3.2%.
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When was the last time these clowns were right about anything?
20 minutes ago
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